Required information [The following information applies to the questions displayed below) Assume Down, Incorporated, was organized on May 1 to compete with Despair , Incorporated-a company that sells de motivational posters and office products. Down, Incorporated, encountered the following events during its first month of operations a. Received $46,000 cash from the investors who organized Down Incorporated b. Borrowed 19.000 cash and signed a note due in two years c Ordered equipment costing $14.000 o Purchased $10,000 in equipment paying $4,000 in cash and signing a six-month note for the balance e Received the equipment ordered in () paid for half of it and put the rest on account Assets Liabilities + Cash Stockholders Equity Common Stock Equipment Accounts Payable Short-term Notes Payable 0 Long-term Notes Payable 0 + Beginning 0 0 = 0 a 10 b 11 + + d = + 11 e Ending + +